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Would Legalizing It Bring Weed Down To Near Tabacco-Price Levels?

Pot prices are getting lower and lower, sort of like LCD TVs. But should you buy now, or hope for even better discounts?

It's a strange situation:

California's medical marijuana law was designed to help the "seriously ill" get weed by growing it themselves and sharing it among fellow members of collectives on a nonprofit basis. Instead, medical cannabis seems to have opened floodgates of bud supplies, often from Mexican cartels and gang-controlled grow houses.

Our commenter of the day, Anonymous, says prices would go down even more if we fully legalized weed, thus taking away the black market:

... The price of pot remains artificially high. It may be going down, but considering that it's a plant (and a plant that grows like weeds) there's no reason for it to be that high. A recent assessment predicted that if pot were legalized, the price would drop to around $20/ounce.

Prohibition is exactly what enables cartels to charge such high prices, not what is keeping the price down. If everyone could grow it for themselves, or buy it at the store, the gangs would go out of business immediately, or have to drop prices to compete.

THAT's basic economics.

$20 an ounce? With a flood of new customers (a.k.a. more demand)? And where's all this cheap weed going to come from? Granny's back yard?

Doesn't make sensimilla to us. How about you?

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